January 14, 2019
by Patricia Garrett
Gymboree, a prominent retailer for children’s clothing and toys, is closing all of its remaining stores (about 900) after the company failed to rebound from a bankruptcy. According to Market Watch, Gymboree is expected to file for a second bankruptcy, which will shutter its remaining stores.
In 2017, Gymboree closed about 350 of its stores in the U.S. as part of its first bankruptcy reorganization. The San Francisco-based Gymboree also operated the retail stores Gymboree Outlet, Crazy 8 and Janie and Jack. According to the Wall Street Journal, the fate of Janie and Jack is uncertain since Gymboree is still seeking a buyer for the brand. If no buyer is found, Janie and Jack stores will also be closed.
Gymboree, which was founded in 1976, filed for Chapter 11 bankruptcy in June 2017. The company reported $1.25 billion in sales for 2016. In July 2016, The Gymboree Corporation sold the Gymboree Play & Music business to Zeavion Holding.